'The most obvious solution is to break the bank up'
Bloomberg News reports that Gulliver, who is also struggling to contain a tax-evasion scandal at HSBC’s private bank that he said brought 'shame' to the company, reported 2014 earnings that missed analysts’ estimates, driving the stock down almost 5%.
The CEO said parts of the investment bank and some national divisions don’t offer sufficient returns and may face 'extreme solutions'.
'The most obvious solution is to break the bank up, as the evidence suggests that the bank is too big to manage', said Ed Firth, an analyst at Macquarie Group in London. 'It’s difficult to get around the numbers'.
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